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          </BusinessName>
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        <ContractorAddress>
          <USAddress>
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      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
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          </BusinessName>
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          <USAddress>
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        <TotalRevenueColumnAmt>1031182</TotalRevenueColumnAmt>
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        <ProgramServicesAmt>240998</ProgramServicesAmt>
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        <ProgramServicesAmt>159530</ProgramServicesAmt>
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        <ProgramServicesAmt>199359</ProgramServicesAmt>
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        <FundraisingAmt>32</FundraisingAmt>
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        <Desc>CONTRACT SERVICES</Desc>
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        <ProgramServicesAmt>349190</ProgramServicesAmt>
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        <FundraisingAmt>28348</FundraisingAmt>
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      <OtherExpensesGrp>
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      <OtherExpensesGrp>
        <Desc>SUPPLIES</Desc>
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        <ProgramServicesAmt>70722</ProgramServicesAmt>
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        <FundraisingAmt>3718</FundraisingAmt>
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      <OtherExpensesGrp>
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        <ProgramServicesAmt>73634</ProgramServicesAmt>
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        <ProgramServicesAmt>99980</ProgramServicesAmt>
        <ManagementAndGeneralAmt>18350</ManagementAndGeneralAmt>
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        <ProgramServicesAmt>6974345</ProgramServicesAmt>
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        <EOYAmt>153214</EOYAmt>
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        <EOYAmt>40576</EOYAmt>
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        <EOYAmt>10718036</EOYAmt>
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        <EOYAmt>5942618</EOYAmt>
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        <EOYAmt>41800</EOYAmt>
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      <DonorRestrictionNetAssetsGrp>
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        <EOYAmt>2090978</EOYAmt>
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        <EOYAmt>12191003</EOYAmt>
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        <EOYAmt>18598387</EOYAmt>
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      <ReconcilationRevenueExpnssAmt>778968</ReconcilationRevenueExpnssAmt>
      <NetUnrlzdGainsLossesInvstAmt>-329269</NetUnrlzdGainsLossesInvstAmt>
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      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>0</AccountantCompileOrReviewInd>
      <FSAuditedInd>1</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
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      <AuditCommitteeInd>1</AuditCommitteeInd>
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      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
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        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
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        <InvestmentEarningsOrLossesAmt>765246</InvestmentEarningsOrLossesAmt>
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        <EndYearBalanceAmt>5893963</EndYearBalanceAmt>
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        <OtherExpendituresAmt>96662</OtherExpendituresAmt>
        <EndYearBalanceAmt>4849542</EndYearBalanceAmt>
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        <InvestmentEarningsOrLossesAmt>362518</InvestmentEarningsOrLossesAmt>
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        <EndYearBalanceAmt>4663926</EndYearBalanceAmt>
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      <FootnoteTextInd>X</FootnoteTextInd>
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      <RevenueNotReportedFinclStmtAmt>0</RevenueNotReportedFinclStmtAmt>
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      <ExpensesNotReportedAmt>0</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>7767212</ExpensesSubtotalAmt>
      <ExpensesNotRptFinclStmtAmt>0</ExpensesNotRptFinclStmtAmt>
      <TotalExpensesPerForm990Amt>7767212</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART V, LINE 4:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE TRUSTEES INTEND THE ENDOWMENT FUNDS TO BE A LONG-TERM INVESTMENT WHOSE PRINCIPAL AND BOARD-DESIGNATED FUNDS WILL REMAIN INVESTED AND WHOSE INCOME, EITHER IN PART OR IN TOTAL, WILL BE USED, ONCE THE ENDOWMENT FUND HAS GROWN TO A REASONABLE AND SUFFICIENT SIZE, TO SUPPLEMENT THE INCOME OF THE ACADEMY. THE GOAL OF THE ACADEMY IS TO ACHIEVE A COMPETITIVE RATE OF RETURN WITH INVESTMENTS IN MUTUAL FUNDS INDEXED TO THE STOCK AND BOND MARKETS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART X, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>ACCOUNTING STANDARDS CODIFICATION SUBTOPIC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, ADDRESSES THE ACCOUNTING UNCERTAINTY OF INCOME TAXES RECOGNIZED IN AN ENTERPRISE'S FINANCIAL STATEMENTS AND PRESCRIBES A THRESHOLD OF "MORE-LIKELY-THAN-NOT" FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. SUBTOPIC 740-10 ALSO PROVIDES GUIDANCE ON MEASUREMENT CLASSIFICATION, INTEREST AND PENALTIES AND DISCLOSURE. THE ACADEMY HAS DETERMINED THAT THE PROVISIONS OF SUBTOPIC 740-10 DO NOT HAVE A MATERIAL EFFECT ON THE ACADEMY'S FINANCIAL STATEMENTS.</ExplanationTxt>
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      <SupplementalInformationDetail>
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        <ExplanationTxt>FUNDRAISING EXPENSES</ExplanationTxt>
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      <SupplementalInformationDetail>
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        <ExplanationTxt>FUNDRAISING EXPENSES</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE E, PART I, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>POLICY IS INCLUDED IN ALL PUBLICATIONS AND/OR BROADCASTS ISSUED BY THE SCHOOL</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE E, PART I, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>FEDERAL AND STATE GRANTS ARE RECEIVED TO PROVIDE SUPPORT FOR VOCATIONAL TRANSPORTATION, 911 COMPLIANCE AND EDUCATIONAL SUPPORTS.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE SCHOLARSHIPS THAT ARE PROVIDED BY THETFORD ACADEMY ARE FOR GRADUATING SENIORS TO APPLY TOWARDS THE COST OF THEIR COLLEGE EDUCATION. THESE SCHOLARSHIPS ARE MERIT BASED OR DONOR SPECIFIED IN REGARDS TO ATTRIBUTES AND THE ACADEMY SCHOLARSHIP COMMITTEE DETERMINES THE RECIPIENTS ON AN ANNUAL BASIS.</ExplanationTxt>
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        <TotalCompensationFilingOrgAmt>196235</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 1A</FormAndLineReferenceDesc>
        <ExplanationTxt>A CAMPUS RESIDENCE, OWNED BY THETFORD ACADEMY, WAS PROVIDED FOR PERSONAL USED AS A CONDITION OF EMPLOYMENT TO THE HEAD OF SCHOOL. THE USE OF THE RESIDENCE IS NOT TREATED AS TAXABLE COMPENSATION.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="RetDoc1053100001">
      <TaxExemptBondsIssuesGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1Txt>VERMONT ECONOMIC DEVELOPMENT AUTHORITY (VEDA)</BusinessNameLine1Txt>
        </IssuerName>
        <BondIssuerEIN>036024497</BondIssuerEIN>
        <CUSIPNum>000000000</CUSIPNum>
        <BondIssuedDt>2009-08-01</BondIssuedDt>
        <IssuePriceAmt>6000000</IssuePriceAmt>
        <PurposeDesc>FINANCE EXISTING DEBT AND SUBSIDIZE VARIOUS RENOVATIONS</PurposeDesc>
        <DefeasedInd>0</DefeasedInd>
        <OnBehalfOfIssuerInd>0</OnBehalfOfIssuerInd>
        <PoolFinancingInd>0</PoolFinancingInd>
      </TaxExemptBondsIssuesGrp>
      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <TotalProceedsAmt>6000000</TotalProceedsAmt>
        <IssuanceCostsFromProceedsAmt>125782</IssuanceCostsFromProceedsAmt>
        <CapitalExpendituresAmt>5874218</CapitalExpendituresAmt>
        <SubstantialCompletionYr>2009</SubstantialCompletionYr>
        <RefundingTaxExemptBondsInd>0</RefundingTaxExemptBondsInd>
        <RefundingTaxableBondsInd>0</RefundingTaxableBondsInd>
        <FinalAllocationMadeInd>1</FinalAllocationMadeInd>
        <AdequateBooksAndRecMaintInd>1</AdequateBooksAndRecMaintInd>
      </TaxExemptBondsProceedsGrp>
      <TaxExemptBondsPrivateBusUseGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <OwningBondFinancedPropertyInd>0</OwningBondFinancedPropertyInd>
        <AnyLeaseArrangementsInd>0</AnyLeaseArrangementsInd>
        <MgmtContractBondFincdPropInd>0</MgmtContractBondFincdPropInd>
        <AnyResearchAgreementsInd>0</AnyResearchAgreementsInd>
        <BondIssMeetPrvtSecPymtTestInd>0</BondIssMeetPrvtSecPymtTestInd>
        <ChangeInUseBondFinancedPropInd>0</ChangeInUseBondFinancedPropInd>
        <ProcsNonqualifiedBondRemdtdInd>0</ProcsNonqualifiedBondRemdtdInd>
      </TaxExemptBondsPrivateBusUseGrp>
      <TaxExemptBondsArbitrageGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiledInd>0</Form8038TFiledInd>
        <RebateNotDueYetInd>0</RebateNotDueYetInd>
        <ExceptionToRebateInd>0</ExceptionToRebateInd>
        <NoRebateDueInd>0</NoRebateDueInd>
        <VariableRateIssueInd>1</VariableRateIssueInd>
        <HedgeIdentifiedInBksAndRecInd>0</HedgeIdentifiedInBksAndRecInd>
        <GrossProceedsInvestedInGICInd>0</GrossProceedsInvestedInGICInd>
        <GrossProceedsInvestedInd>0</GrossProceedsInvestedInd>
        <WrittenProcToMonitorReqsInd>0</WrittenProcToMonitorReqsInd>
      </TaxExemptBondsArbitrageGrp>
      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <ProceduresCorrectiveActionInd>0</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
    </IRS990ScheduleK>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>REVIEWED AND APPROVED BY THE RESOURCES COMMITTEE OF THE BOARD OF TRUSTEES.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>REQUIRES OFFICERS AND DIRECTORS TO ANNUALLY DISCLOSE POTENTIAL CONFLICTS. COMPLIANCE IS REVIEWED BY THE BOARD MANAGEMENT COMMITTEE ANNUALLY OR AS WARRANTED.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>REVIEWED AND DETERMINED BY PERSONNEL COMMITTEE AND RESOURCES COMMITTEE FOR BOARD OF TRUSTEES, AND APPROVED BY BOARD OF TRUSTEES VOTE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>ALL GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE TO THE PUBLIC THROUGH THE WEBSITE AT THETFORDACADEMY.ORG. FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>
